Emerging-Market Stocks Advance as Turkey Jumps to Record

May 14 (Bloomberg) -- Emerging stocks rose for the first
time in four days, led by consumer companies. The Borsa Istanbul
National 100 index climbed to a record, while Chinese shares
declined the most in three weeks on property concerns.

Turkey’s Akfen Holding AS jumped as its airport
construction unit won a $400 million project abroad.
Telekomunikacja Polska SA rose to a three-month high in Warsaw.
South Korean stocks gained the most in Asia, led by exporters,
as an earlier rally of the yen eased concern about loss of
competitiveness to Japanese rivals. China Vanke Co. slumped on
speculation the government is introducing more property curbs.

The MSCI Emerging Markets Index rose 0.4 percent to
1,046.18. The gauge rebounded after capping the longest slide in
a month yesterday as Chinese output trailed estimates, prompting
JPMorgan Chase & Co. to cut its outlook for the nation’s
economy. Polish economic growth matched an 11-year low in the
first quarter, boosting the case for further rate reductions by
the nation’s central bank.

“The theme is that continued global monetary ease is going
to fuel equity prices,” Walter ‘Bucky’ Hellwig, who helps
manage $17 billion of assets at BB&T Wealth Management in
Birmingham, Alabama, said by phone. “That’s pretty bullish for
emerging markets, despite the weak data out of China.”

Eight out of 10 groups in the emerging-market gauge rose as
consumer and technology shares added at least 0.8 percent. The
broader measure slid 0.9 percent this year, compared with a 13
percent gain in the MSCI World Index.

Borsa Istanbul index jumped 1.7 percent as Akfen Holding
posted the biggest gain since April 29. More than a million
shares traded, almost 70 percent of the three-month average
daily volume, according to data compiled by Bloomberg.

Russian equities fell for a third day as OAO Lukoil and OAO
Gazprom, companies with the biggest weighting on the Micex
Index, dropped as they traded without the right to a dividend.
The Micex Index dropped 0.8 percent, the most since April 17.

Samsung Electronics

Samsung Electronics Co., the world’s biggest maker of
mobile phones, and Hyundai Motor Co. added more than 1.5 percent
in Seoul. The Kospi Index gained 1 percent as the yen gained the
most in two weeks, before reversing its advance. The dollar rose
against the yen for a fifth straight day, the longest winning
streak since November.